William Hill to kick-off new Gibraltar operation July 26, 2010 BOOKMAKER William Hill has said it will establish a new telephone betting operation offshore in Gibraltar. The company said the move was in response to betting exchanges and offshore telebetting operators, which have a lighter tax burden. Firms based offshore do not have to pay the Horseracing Betting Levy, which UK-based bookies have to pay [...]
Reckitt July 26, 2010 On the surface, Reckitt’s earnings per share growth of 20 per cent, almost four per cent ahead of what was expected is good, but the absence of its usual full-year profit guidance upgrade is worrying. Weak demand in Europe, a niggle in the first-quarter, has now become a full-blown crisis with the second quarter seeing [...]
Tullow cheers big oil find off Ghana coast July 26, 2010 TULLOW OIL said yesterday it had found a major new oil field off the coast of Ghana, raising hopes for the firm’s other wells in West Africa. Tullow, the largest independent oil explorer in Europe, said the discovery was substantial and of excellent quality. London-based Tullow owns a 49.95 per cent stake in the Tano [...]
Knowing who is in charge is the key to success July 26, 2010 Twice in the past month, I’ve got back in touch with businesses with husband and wife teams at their core. In both cases, the businesses are doing well, and my hesitancy to not get involved because of the “power knot” may have been too strong. A girlfriend is considering buying a business with a friend [...]
Madoff trustee could sue 1,000 July 26, 2010 THE trustee overseeing the liquidation of Bernard Madoff’s investment firm might sue about 1,000 victims whom he believes profited improperly from doing business with the now-imprisoned Ponzi schemer. Irving Picard, the court-appointed trustee, “could sue” about half of the estimated 2,000 former Madoff clients whom he considers “net winners,” a spokesman said. Picard has until [...]
Pearson gets digital boost July 26, 2010 Publisher Pearson expects to see a seven per cent spike in full-year earnings after a boost from its digital services division. The company now says it is wholly focused on the education aspect of its business, with online services taking the forefront in its expansion. Pearson’s education business, the world’s largest, saw a nine per [...]
IBM faces competition probes July 26, 2010 EUROPEAN Union competition regulators launched two anti-trust investigations against IBM, suspecting it of abusing its dominant position in the mainframe computer market. One investigation followed complaints by emulator software vendors T3 and TurboHercules against IBM’s practices, and focuses on the US computer group’s alleged tying of mainframe hardware to its mainframe operating system. The second [...]
Pace buys US box-maker 2Wire in a £307m deal July 26, 2010 Pace, the world’s largest set-top box maker, has thrown down the gauntlet to internet TV providers by snapping up US broadband technology firm 2Wire for $475m (£307m). The acquisition will allow it to broaden its customer base beyond cable and satellite into the rapidly expanding online TV market. The British firm, which overtook Motorola to [...]
GOOGLE HIT BY CHINA RETREAT July 26, 2010 GOOGLE’S dominant position on the global online search market slipped slightly in the second quarter, as it retreated from the Chinese market. Its market share fell to 69.7 per cent in the April to June quarter from 71.1 per cent in the previous three months. The biggest gainer on the global scale was China’s Baidu, [...]
CITY MOVES | WHO’S SWITCHING JOBS July 26, 2010 Deloitte The accountancy giant has appointed Nick Sanderson to head up its real estate corporate finance advisory business. Sanderson joins Deloitte as a partner from Japanese bank Nomura, where he was a managing director and head of real estate investment banking. He has also previously worked at Lehman Brothers and UBS and has 10 years [...]
